Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-04-22
The Negotiations.

The Negotiations
What are the people of Virginia
thinking about to-day? What subject
is uppermost in the public mind? Upon
what topic do all men with one consent
begin to talk when they meet one an
other? We think it may be safely said
that all good citizens who feel the re-
sponsibility that rests upon them as in
fuential members of. or units in. the
body polite begin whenever they meet
one another to talk of the condition of
the public debt, and to try to devise
some scheme for effecting settlement
of that debt.
We have published articles from a
number of leading gentlemen contribu-
ting advice and arguments and back
bone. On Wednesday we published a
letter suggesting that astamp-tax might
yield whatever small amount Of money
a new settlement might render it neces-
sary TO raise annually in order TO pay
regularly the interest on the public
debt and provide for the increa-
sing expenses of the State gov
eminent. Yesterday we published
a petition signed by more than
hundred Of our business-men-mer-
chants. manufacturers, and property
owners, urging the joint committee
appointed by the houses of Assembly
TO meet the commission sent from Lon
don by the English bondholders in a
spirit Of Cancellation, and with sincere
desire to arrive at just compromise.
These gentlemen express their belief
that the failure to come to an under
standing will be alike disastrous to the
State and the creditors, and exhOrt the
committee not to endsnger the position
of the Democratic party by refusing to
accept a reasonable offer on the part of
the bondholders. And they utter the
opinion that . "prolongation OF the
present warfare, which is working Sc
nous harm to the State and hindering
the development of her resources, can
not fail to induce many who have
hitherto supported their party by pay
ing their taxes in money to avail them
selves Of their undoubted legal right
TO discharge them i'll coupons aud
thereby signify their determination to
force the question to speedy conclu-
SION"
1bis last declaration shows that our
lusiness-men know where the danger
10 them les. The Virginia LegiSla-
;ure is hardly ever ready to do justice
10 the cities. 1t seems ever to be pos
sessed Of the notion that the cities can
not be taxed too much. Consequently,
If the men who now pay a million OF
dollars into the Treasury for liquor
licenses and other licenses were to pay
their axes in coupons, the Legislature
would probably double the license
taxes, and thus make them pay into the
Treasury all the coupons maturing an
nually and then compel them to pay
another million in money. (The
amount of tax-receivable coupons ma
turing annually is about million OF
dollars We have heard this very
scheme seriously spoken of.
And this remark suggests that the
State is as much bound to provide for
the peclers and other bonds not bear
ing tax. receivable coupons as for those
bearing tax receivable coupons. Good
faith demands, too, that she shall ac-
cord as good terms to the men who
have already funded in Riddles and
helped the State in her troubles as to
those who have prosecuted and prose
cuted her from the State courts to the
highest Federal court.
We repeat that all the good people OF
the Commonwealth seem to be OF one
mind just now. They talk about the
State Debt, and they are anxious to have
il settled once for all. This fact prom
ises a favorable settlement. We trust
that this promise will not fail OF reali-
yation. We infer from what we see and
hear that the members of the Legisla-
ture all return to Richmond next week
feeling that they are clothed with full
power TO rid the State forever OF her
debt troubles il only the agents of the
Council of Foreign Bondholders can be
n,sde 10 understand the real condition
OF toi1ge lere.